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Do You Need Web3?

doyouneedweb3.com

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Re: Do You Need Web3?

#21

Post by indigochill »

blueboo wrote: post #9

The unbanked and the oppressed need Web3. After all, 5% of each transaction of ScamOfTheDayCoin will go to the orphans -- once we upgrade to the new liquidity pool. And do migrate soon or the 100% tax kicks in (your next transaction)!...

I recognize you're being sarcastic, but to answer the serious arguers of this "unbanked and oppressed need Web3" statement the answer is still no.

Hawala is a method of money transfer dating to the 8th century. You give some money to a broker, they take some cut, then communicate to a broker at the other end to give the person you specify the amount you requested be delivered. Then the brokers settle accounts independently in a fashion that suits them. In this way it has the same non-banking cross-border benefits that cryptocurrency does (and for privacy may even be preferable since the transaction doesn't appear on any standardized nor public ledger).

It also ranges in legal status from illegal to highly illegal depending on jurisdiction, as it turns out this is a very convenient way to fund terrorism (because it's proven to work for people who are disconnected from official financial channels). It's also used for perfectly innocent purposes, but because it cannot be monitored due to the peer-to-peer nature of the transactions between brokers and individualized bookkeeping it's banned.

I consider its legal status to be a canary for the status of cryptocurrency's role in cross-border transactions. The bits that are effective will eventually be banned (we've already seen this in practice with the recent conviction of that Ethereum founder who was trying to help North Korea evade sanctions with cryptocurrency) and the bits that are the same as the banking status quo will be allowed, making it effectively no different from the status quo.

Re: Do You Need Web3?

#23

Post by ngc6677 »

rmbyrro wrote: post #3
Bourget wrote: post #2

You also don't need to import a Roboto font from Google to display two letters --- and yet, here you are.

Also don't need to register a .com domain to display two letters

data:text/html;charset=utf-8,html, body, section {margin: 0; min-height: 100vh;} section {display: flex; justify-content: center; align-items: center; font-size: 20vh; font-weight: bold;}maybe

Re: Do You Need Web3?

#24

Post by Mrdarknezz »

twelve40 wrote: post #20
Mrdarknezz wrote: post #18

Earlier quoted context omitted.

I'm not sure when it happened but all of suddenly the discussion on anything related to blockchain became very black and white. Anyone that tries to nuance the topic gets immediately called out as favouring this or that.

Well there is a whole lucrative industry hyping the shit out of it, and the rest of us who can for the life of us understand how this is useful.

Yeah there sure seems to be alot of scams. But the idea that it would dismiss everything related to the blockchain seems like taking it a step too far in the other direction? I'm no expert but I get extreme flashback of the era when PHP was considered radioactive garbage and any attempts of nuance was struck down

Re: Do You Need Web3?

#25

Post by rvz »

Mrdarknezz wrote: post #24
twelve40 wrote: post #20

Earlier quoted context omitted.

Well there is a whole lucrative industry hyping the shit out of it, and the rest of us who can for the life of us understand how this is useful.

Yeah there sure seems to be alot of scams. But the idea that it would dismiss everything related to the blockchain seems like taking it a step too far in the other direction? I'm no expert but I get extreme flashback of the era when PHP was considered radioactive garbage and any attempts of nuance was struck down

Well you have to ignore the total absolutism and extreme rhetoric that is taken from either direction: Those "who totally support it" and think that all crypto projects and its technology will take over the banks, institutions and payment processors and those "who are totally against" it and think it will 100% collapse, go away and the technology won't be used by anyone.

I'm afraid that both of them are setting themselves up to being disappointed.

Re: Do You Need Web3?

#27

Post by sshine »

rvz wrote: post #25
Mrdarknezz wrote: post #24

Earlier quoted context omitted.

Yeah there sure seems to be alot of scams. But the idea that it would dismiss everything related to the blockchain seems like taking it a step too far in the other direction? I'm no expert but I get extreme flashback of the era when PHP was considered radioactive garbage and any attempts of nuance was struck down

Well you have to ignore the total absolutism and extreme rhetoric that is taken from either direction: Those "who totally support it" and think that all crypto projects and its technology will take over the banks, institutions and payment processors and those "who are totally against" it and think it will 100% collapse, go away and the technology won't be used by anyone . I'm afraid that both of them are setting them…

It’s hard to ignore the absolutist echoes, because the extremes are rewarded so much: The hype train will airdrop you some NFTs, and the haters will upvote one another because being a conservative skeptic is so authoritative.

Re: Do You Need Web3?

#28

Post by sshine »

Bourget wrote: post #2

You also don't need to import a Roboto font from Google to display two letters --- and yet, here you are.

This page demonstrates the worst parts of web2.

A lot of web3 does that, too.

Wanting a decentralised web and to become the dominant financial platform have some conflicts of interest.

Besides email, BitTorrent, Tor, and Bitcoin (and to some degree projects that form their ideas), there’s not a lot of successful, widespread decentralised protocols, and the ones we’ve got are even subject to constant invasion by dominating platforms (e.g. Gmail for email).

Re: Do You Need Web3?

#29

Post by Mrdarknezz »

rvz wrote: post #25
Mrdarknezz wrote: post #24

Earlier quoted context omitted.

Yeah there sure seems to be alot of scams. But the idea that it would dismiss everything related to the blockchain seems like taking it a step too far in the other direction? I'm no expert but I get extreme flashback of the era when PHP was considered radioactive garbage and any attempts of nuance was struck down

Well you have to ignore the total absolutism and extreme rhetoric that is taken from either direction: Those "who totally support it" and think that all crypto projects and its technology will take over the banks, institutions and payment processors and those "who are totally against" it and think it will 100% collapse, go away and the technology won't be used by anyone . I'm afraid that both of them are setting them…

Yeah like every other technology it will either ultimately prove its worth or fade into obscurity like everything else. I just don't see the point with these extreme viewpoints.
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